Housing Market Slump Continues Despite Government Measures to Spur Demand
- Homebuyers remain wary of economic outlook, hold back on purchases despite stimulus measures
- Developers and agents say sales still soft after initial spike in major cities like Beijing, Shenzhen
- Support policies have lowered costs but not created new demand amid weak confidence
- Sales in October expected to stay soft as site visits not translating into purchases
- Forecasts revised down for full-year property sales declines, outlook remains weak amid sluggish demand
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